Registration number: 12578957

Novax Recruitment Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 7

Novax Recruitment Ltd

Company Information

Directors

T Dracup D M Roberts

Registered office

First Floor Unit 2 Edward Court George Richard Way Altrincham WA14 5GL

Accountants

Davidson Stant Limited The Glen Knutsford Old Road Stockton Heath Warrington WA4 2LD

Novax Recruitment Ltd

(Registration number: 12578957)
Balance Sheet as at 31 July 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	3	9,166	12,927
Current assets
Debtors	4	471,428	625,501
Cash at bank and in hand		218,838	95,035
		690,266	720,536
Creditors: Amounts falling due within one year	5	(478,374)	(661,555)
Net current assets		211,892	58,981
Total assets less current liabilities		221,058	71,908
Provisions for liabilities		(1,516)	(2,456)
Net assets		219,542	69,452
Capital and reserves
Called up share capital	6	86	86
Share premium reserve		(42,486)	(29,986)
Retained earnings		261,942	99,352
Shareholders' funds		219,542	69,452

For the financial year ending 31 July 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 7 October 2025 and signed on its behalf by:
 

.........................................

T Dracup

Director

Novax Recruitment Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

1	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Novax Recruitment Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 16 (2024 - 16).

Novax Recruitment Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

3	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 August 2024	25,591	25,591
At 31 July 2025	25,591	25,591
Depreciation
At 1 August 2024	12,664	12,664
Charge for the year	3,761	3,761
At 31 July 2025	16,425	16,425
Carrying amount
At 31 July 2025	9,166	9,166
At 31 July 2024	12,927	12,927

4

Debtors

Current	2025 £	2024 £
Trade debtors	452,952	606,965
Prepayments	12,251	12,311
Other debtors	6,225	6,225
	471,428	625,501

5

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	7	269,115	461,708
Trade creditors		1,080	68,385
Taxation and social security		135,326	113,159
Accruals and deferred income		68,894	11,919
Other creditors		3,959	6,384
		478,374	661,555

Novax Recruitment Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

6	Share capital

7	Loans and borrowings

Current loans and borrowings

	2025 £	2024 £
Bank overdrafts	269,115	461,708

8

Dividends

Interim dividends paid

		2025 £		2024 £
Interim dividend of £1,627.72 (2024 - £1,188.09) per each Ordinary shares		139,984		102,176

9	Related party transactions

Novax Recruitment Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

Directors' remuneration

The directors' remuneration for the year was as follows:

	2025 £	2024 £
Remuneration	21,997	9,386